Total monthly cost of ownership
Cost to Own a Home in Garden City, Michigan
A $162,000 home here costs
$1,535per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $833. The real number is $702 higher every month — 84% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Garden City against Wayne County and Michigan
| Measure | Garden City | Wayne County |
|---|---|---|
| Median home value | $162,400 | $170,200 |
| Median property tax | $2,897 | $2,794 |
| Effective tax rate | 1.784% | 1.642% |
| Median gross rent | $991 | $1,087 |
| Population | 26,910 | 1,773,767 |
The weather behind that power bill
Garden City sits in Wayne County, which averages a high of 83.7°F in its hottest month and a low of 19.2°F in its coldest, with 34.32" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 847 cooling and 6,067 heating degree days, which is what sets the $198 electricity line above.
See the full climate breakdown for Wayne County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Wayne County
Common questions
How much does it cost to own a home in Garden City?
A $162,000 home in Garden City, Michigan costs approximately $1,535 per month with 20% down at 6.66%. That is $833 principal and interest, $241 property tax, $60 homeowners insurance, $266 utilities and $135 set aside for maintenance.
What is the property tax rate in Garden City?
Garden City has an effective property tax rate of 1.784%, based on a median home value of $162,400 and median real estate taxes of $2,897. That is higher than the Wayne County average of 1.642%.
What is the average home price in Garden City?
The median owner-occupied home value in Garden City, Michigan is $162,400, against $170,200 across Wayne County.
Is it cheaper to rent or buy in Garden City?
Median gross rent in Garden City is $991 a month, against $1,535 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Garden City — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Michigan.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.